Some fees they have had to cap at a much lower price than they would have chosen for themselves — like the transaction fee, overdraft fees, fees that can be charged for method of payment (such as over the phone versus online), and some fees are now prohibited all together, such as charging interest on credit card transaction fees and double cycle billing.

Now that credit card companies and banks have had their hands slapped, they are beginning to test the waters in charging customers and non-customers in other areas in order to fill the financial void left by these new laws.

New Fees

Free bill pay, free access to the ATM, free checks and free checking accounts has practically become a right in the United States. But both Bank of America and JP Morgan Chase have begun to charge customers tiered fees for these free services in certain markets. If all goes well, they plan to roll out the new fees in other areas. HSBC will be converting some of their checking accounts to fee accounts, and charging up to $15. Wells Fargo eliminated free checking on July 1, 2010 for new bank accounts, but has continued to honor free checking for existing bank accounts.

Other new fees include Bank of America’s charge of $3 for paper copies of your canceled checks along with your statement and a charge for fraud alerts.

Industry-wide, the average cost of cash advances and balance transfer fees rose from 3% to 4% according to the Pew Health Group’s Safe Credit Cards Project. Annual fees have risen from an average of $50 to $59 for banks and from $15 to $25 for credit unions.

Have you noticed a change in your bank account, debit, or credit cards?

Madison DuPaix is a mom to three young children with a background in finance and insurance. She loves retirement planning and taxes, and recently started her own tax business. Madison is the author of My Dollar Plan and is the guide to Kids and Money at about.com.

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A few things you should know about me: I'm a wife and mother of 6, as well as a full-time work-at-home mom, a passionate entrepreneur, a homeschooler, and an INTJ, with a heavy emphasis on the introvert! And I'm pretty sure fair-trade chocolate, loose leaf tea, and Starbucks lattes are among life's greatest pleasures.